“It’s that time of year again when the rumour mills keep churning out their thoughts of what is likely to happen in the budget. Of course they are always highly accurate (?), but at least this year they get to play the Covid top trump card!
Pensions seem to be a very hot topic at the moment when it comes to rumours. Whether it is switching to a flat rate tax relief on contributions or removing the Inheritance Tax free nature of pensions, the rumours are flooding in fast. There is however a degree of consistency which just might need further thought. These two examples could easily be seen as attacks on pensions which impact only the very high earners, and politically that has to be far more palatable than raids on the average person on the street. Especially as this is likely to be the last full budget where contentious decisions could be made that wouldn’t perhaps impact on a future election result!
Call me a cynic, but perhaps this budget might just have that sting in the tail after all.”